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Free up funds flow to media, says AOL chief

BS ICE Bureau

What happens when the biggest mover in international media comes under one roof with information and broadcasting minister Sushma Swaraj and the virtual Who's Who of the domestic media and communication industries?

At an interactive session with AOL-Time Warner CEO Gerald Levin, organised by the confederation of Indian Industry here today, the issue of foreign direct investment in the print media came up with The Indian Express editor and CEO Shekhar Gupta asking him to share his experience on the issue in different countries across the world.

Gupta even pointed at Aroon Purie on the dais saying even the India Today Group was in favour of the relaxation.

Levin told the audience, which included Bharti's Sunil Mittal, Zee's Subhash Chandra, Satyam's R Ramaraj, NDTV's Prannoy Roy, RPG's Sanjiv Goenka, actress-turned-parliamentarian Shabana Azmi, Times group's Vineet Jain and Samir Jain among others, that he saw no problem in allowing foreign investment in the media.

"Total prohibition (of FDI in print media) on the pretext of protecting the domestic media industry is a problem. This fear must dissipate now. Any player should be allowed, but the government must demand that the companies adhere to a value system that respects local sensibilities," Levin said, pointing out that the Internet had made it possible for individuals to get around restrictions to access information.

"Regulation of the Net is not possible. People, especially the youth, are quite adept in getting around any restrictions and a free flow of information is inevitable," he said.

Information and broadcasting minister Sushma Swaraj, who said the government would look forward to suggestions from Levin, was quick to point out that "if there are 15 people wanting FDI in print media, there is an equal number arguing against it".

Sunil Mittal pointed out the apparent discrepancy in the country's broadband sector, saying one needed to buy bandwidth in retail and sell it in bulk in India.

The Bharti chief wanted Levin to share the international experience in this regard, and Swaraj said she would look forward to the suggestions.

Levin evaded a direct response, saying the government must take all measures to ensure that the sector received encouragement to grow.

At the end of his lengthy reply, Swaraj said, "The points have been noted and will be passed on to my colleague, information technology and communications minister Pramod Mahajan."

The session also saw the AOL-Time Warner CEO forcefully putting across his views on the alleged American dominance of international media.

"I do not believe in American cultural imperialism. Our intent is not to secure an avenue of American-made products in India. My visit to India is to augment the distribution of our products in the country and take advantage of the technical and journalistic talent available here," Levin said.

The battery of reporters too did their bit chasing the media honchos, and Subhash Chandra and Prannoy Roy were at pains to deny they had negotiated new deals with Levin.

"At present, I have no comments," Chandra said when asked about a new agreement with AOL-Time Warner that went beyond their existing distribution arrangement.

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